6/24/2020, 11:50 AM (Source: TeleTrader)
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Wirecard's ex-CEO Braun out on bail - Munich court

Wirecard AG's former Chief Executive Markus Braun (pictured) has been released from custody after posting bail of €5 million, a spokeswoman at a Munich court said on Wednesday.

The bail has been posted on Tuesday afternoon, the court's press representative stated, adding that Braun will now have to report to the police weekly for the duration of the investigation.

Braun was arrested after being accused of falsifying the digital payment service company's accounts, especially involving the issue of missing €1.9 billion that auditors revealed. Yesterday, Germany's Federal Financial Supervisory Authority (BaFin) filed a criminal complaint against Wirecard, accusing it of market manipulation.

Breaking the News / MS